Custom Truck One Source (NYSE:CTOS) Shares Gap Up on Insider Buying Activity

Custom Truck One Source, Inc. (NYSE:CTOS – Get Rating) shares gapped up prior to trading on Monday after an insider bought additional shares in the company. The stock had previously closed at $6.05, but opened at $6.34. Custom Truck One Source shares last traded at $6.35, with a volume of 11,363 shares trading hands. Specifically, CFO Christopher J. Eperjesy acquired 30,000 shares of Custom Truck One Source stock in a transaction dated Friday, November 11th. The stock was bought at an average price of $6.45 per share, with a total value of $193,500.00. Following the transaction, the chief financial officer now directly owns 30,000 shares in the company, valued at approximately $193,500. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CTOS. Robert W. Baird reduced their price target on shares of Custom Truck One Source from $10.00 to $9.00 in a research report on Wednesday, November 9th. Deutsche Bank Aktiengesellschaft raised their price objective on Custom Truck One Source from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Finally, Citigroup raised their price objective on Custom Truck One Source to $8.50 in a research note on Monday, August 15th.

Custom Truck One Source Stock Up 6.3 %

The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.46 and a current ratio of 1.47. The firm has a market capitalization of $1.59 billion, a P/E ratio of 605.61 and a beta of 0.55. The stock has a 50 day moving average of $6.48 and a 200-day moving average of $6.13.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CTOS. Tower Research Capital LLC TRC grew its holdings in shares of Custom Truck One Source by 107.6% during the third quarter. Tower Research Capital LLC TRC now owns 7,480 shares of the company’s stock worth $44,000 after purchasing an additional 3,877 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Custom Truck One Source during the third quarter worth about $182,000. Creative Planning purchased a new position in shares of Custom Truck One Source during the third quarter worth about $66,000. Barclays PLC grew its holdings in shares of Custom Truck One Source by 48.2% during the third quarter. Barclays PLC now owns 82,791 shares of the company’s stock worth $483,000 after purchasing an additional 26,938 shares in the last quarter. Finally, Canvas Wealth Advisors LLC lifted its position in Custom Truck One Source by 10.5% in the 3rd quarter. Canvas Wealth Advisors LLC now owns 3,075,873 shares of the company’s stock worth $20,608,000 after buying an additional 292,826 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

About Custom Truck One Source

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Custom Truck One Source, Inc provides specialty equipment rental services to the electric utility transmission and distribution, telecommunications, rail, other infrastructure-related industries in North America. It operates through Equipment Rental Solutions, Truck and Equipment Sales, and Aftermarket Parts and Services segments.

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